StockNews.com Upgrades THOR Industries (NYSE:THO) to “Hold”

THOR Industries (NYSE:THO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Other analysts also recently issued research reports about the company. Citigroup boosted their price objective on THOR Industries from $119.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Truist Financial upped their price target on shares of THOR Industries from $95.00 to $105.00 and gave the company a “hold” rating in a report on Friday, September 20th. BMO Capital Markets reissued an “outperform” rating and issued a $120.00 price target on shares of THOR Industries in a report on Thursday, September 19th. Benchmark reaffirmed a “hold” rating on shares of THOR Industries in a research note on Tuesday, December 3rd. Finally, Bank of America assumed coverage on THOR Industries in a research note on Friday, December 13th. They issued a “neutral” rating and a $120.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.33.

THOR Industries Trading Down 0.6 %

NYSE:THO traded down $0.59 during trading hours on Wednesday, reaching $95.84. The company’s stock had a trading volume of 255,807 shares, compared to its average volume of 513,288. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.78 and a current ratio of 1.71. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 24.51 and a beta of 1.67. The firm has a 50-day simple moving average of $106.92 and a 200-day simple moving average of $103.14. THOR Industries has a 1 year low of $88.37 and a 1 year high of $129.31.

THOR Industries (NYSE:THO) last released its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.35 by $0.33. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. Research analysts expect that THOR Industries will post 4.67 EPS for the current fiscal year.

Insider Transactions at THOR Industries

In related news, VP Colleen A. Zuhl sold 4,354 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the sale, the vice president now owns 131,905 shares of the company’s stock, valued at $15,169,075. The trade was a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On THOR Industries

Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in THOR Industries by 35.1% during the 2nd quarter. Pacer Advisors Inc. now owns 1,140,363 shares of the construction company’s stock valued at $106,567,000 after purchasing an additional 296,583 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of THOR Industries by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,901,024 shares of the construction company’s stock valued at $271,097,000 after buying an additional 187,019 shares during the last quarter. Natixis Advisors LLC raised its position in THOR Industries by 51.3% in the 3rd quarter. Natixis Advisors LLC now owns 504,922 shares of the construction company’s stock worth $55,486,000 after buying an additional 171,244 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of THOR Industries by 46.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 501,479 shares of the construction company’s stock valued at $55,108,000 after purchasing an additional 159,022 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in THOR Industries in the 3rd quarter worth approximately $13,229,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

THOR Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.